WASHINGTON (Reuters) – The White House and congressional lawmakers have reached a deal to avoid the “fiscal cliff” that would delay harsh spending cuts by two months, an Obama administration source said on Monday.
The source said Democratic Senate Majority Leader Harry Reid and House of Representatives Minority Leader Nancy Pelosi had signed off on the deal.
The agreement includes a balance of spending cuts and revenue increases, the source said.
(Reporting by Jeff Mason and Mark Felsenthal; Editing by Eric Walsh)
Firstpost encourages open discussion and debate, but please adhere to the rules below, before posting. Comments that are found to be in violation of any one or more of the guidelines will be automatically deleted:
Personal attacks/name calling will not be tolerated. This applies to comments directed at the author, other commenters and other politicians/public figures
Please do not post comments that target a specific community, caste, nationality or religion.
While you do not have to use your real name, any commenters using any Firstpost writer's name will be deleted, and the commenter banned from participating in any future discussions.
Comments will be moderated for abusive and offensive language.